ENERGY TRANSITION INDEX 2024 (Syllabus: GS Paper 3 – Env and Eco)

Context: India has recently been ranked 63rd on the global Energy Transition Index, highlighting the country's significant improvements in energy equity, security, and sustainability.

Energy Transition Index 2024

• About: It is benchmarks 120 countries on their current energy system performance and on the readiness of their enabling environment, finds that while there has been notable progress in energy efficiency and a marked increase in the adoption of clean energy sources, energy transition momentum 
• Published by: World Economic Forum (WEF)
• Officially known as: "Fostering Effective Energy Transition
• Top Countries: Sweden, followed by Denmark, Finland, Switzerland and France.
• Bottom Countries: Tanzania, followed by Yamen and Congo.
• Emerging economies such as Brazil and China made notable progress, although 83% of countries moved backwards from last year in at least one of the three energy system performance dimensions – security, equity and sustainability. 
• The gap in energy transition performance between advanced and developing economies continues to narrow, although disparities in investments and regulation remain.
• India’s neighbour countries rank:  China 20th Rank, Nepal 100th rank, Bangladesh 109th, Pakistan 113th Rank.

World Economic Forum

• About: The WEF is a Swiss nonprofit foundation established in 1971, based in Geneva, Switzerland.
• Initiated by: German professor Klaus Schwab
• Recognized by: Swiss authorities as the international institution for public-private cooperation.
• Mission: Committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas.